Sarka,
Jet Airways is an established airline in India whereas Kingfisher is coming up as a strong competitors. When it comes to pay that is something you would have to negotiate with individual airlines.
Jet has base for its ATR in DEL, BLR and BOM. Whereas KFA is operating its ATRs out of BLR and CCU. So depending on where you want to live you can decide which airline to join.
Delhi, all the embassies are in Delhi and they all seem to have some sort of club for their citizens. Also there are a lot of day boarding and full boarding schools in and around Delhi. So if both of you start working, than perhaps your kids can go to Boarding school. The only thing that is really going in top gear in India is its education system. We do have one of the best education systems in the world.
B'lore is getting a bit too crowded but it still is the silicon valley of India. People who live in B'lore swear by it that they love it there. The roads are narrow, crowded (well thats most of India) and you will find yourself in traffic jams. But that happens in London and NY as well.
Good luck deciding which airline to join.